UN Puts $2.4 Trillion Annual Price Tag On Mitigating Climate Change

UN Puts $2.4 Trillion Annual Price Tag On Mitigating Climate Change

The new report will feed into a process called the 'Talanoa Dialogue, ' in which parties to the Paris accord will take stock of what has been accomplished over the past three years.

The in-depth report's title: Global Warming of 1.5°C, an IPCC special report on the impacts of global warming of 1.5°C above pre-industrial levels and related global greenhouse gas emission pathways, in the context of strengthening the global response to the threat of climate change, sustainable development, and efforts to eradicate poverty, leaves very little doubt as to what the report is about.

Reaffirming the Federal Government's commitment to the Paris agreement, which aims to cut 2005-level emissions 26 per cent by 2030, Environment Minister Melissa Price said the IPCC report would be considered as part of a review of Australia's contribution to global action on climate change.

Scientists have said the impacts of climate change, from droughts to rising seas, will be less extreme if temperature rises are curbed at 1.5C above pre-industrial levels than if they climb to 2C, the UN-backed study said.

Meeting the 1.5C limit would demand "rapid, far-reaching and unprecedented change in all aspects of society", the panel said.

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The report drew dire headlines such as CNN's "12 years to stop climate catastrophe", and The Washington Post's "The world has just over a decade to get climate change under control, United Nations scientists say".

Didier Roche, President of the EGU Climate: Past, Present and Future Division, highlighted the differences between the two global warming limits included in the Paris climate agreement as analysed in detail in SR15: "You might think that 1.5°C versus 2°C is a small difference".

At 1.5 degrees, the authors predict the Arctic Ocean will be free of sea ice once per century. "What we've done is said what the world needs to do", Imperial College London's Jim Skea, cochair of the IPCC panel, said at a press conference. There is now greater confidence in time-bound projections on the impacts of climate change on agriculture, health, water security and extreme weather.

In the IPCC's most ambitious pathway, global net human-caused emissions of Carbon dioxide would need to fall by about 45 per cent from 2010 levels by 2030, reaching "net zero" around 2050.

The unprecedented flooding in Kerala, drought in Cape Town and searing heat waves in Europe are signs that climate change is already happening.

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Released Sunday, the report warned that the world is rapidly running out of time to scale back greenhouse gas emissions before catastrophic planetary changes occur. We also will need to rely on carbon removal-whether that's as low-tech as planting trees or using new technology like direct air capture that can suck CO2 from the atmosphere.

Labor frontbencher Penny Wong said climate wars inside the coalition government can not be allowed to hold Australia back any longer.

The report fired up activists even as critics dismissed the deadline as another arbitrary "climate tipping point", as Climate Depot's Marc Morano put it.

"We need to show that we are serious about the issues which will affect our country for generations".

The United States was initially in the agreement, but President Donald Trump pulled the country out a year and half later, claiming it was unfair to the country.

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